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URL:  http://boards.fool.com/covered-call-taxes-12881748.aspx

Subject:  Covered Call Taxes? Date:  7/10/2000  8:14 PM
Author:  jediinc Number:  37331 of 120819

If I sell a covered call, in the year end statement from my broker, my broker says that this transaction has not been reported to the IRS.

Is the premium taxable as regular income? OR
Can I deduct the premium from my original purchase price and thereby increase my long term capital gain?
OR
Is the premium not taxable?

Thanks,
Jedi
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